The following information pertains to property taxes levied by Oak City for 20X4:
Colle...
Business, 24.04.2020 18:02 Goodgirlkl12k
The following information pertains to property taxes levied by Oak City for 20X4:
Collections during 20X4 $500,000
Expected collections during the first 60 days of 20X5 100,000
Expected collections during the balance of 20X5 60,000
Expected collections during January 20X6 30,000
Estimated to be uncollectible 10,000
Total levy $700,000
Required:
What amount should Oak report for 20X4 net property tax revenues?
Answers: 2
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